Armstrong Advisory Group Inc. Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Armstrong Advisory Group Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,118 shares of the information services provider’s stock after buying an additional 113 shares during the period. Armstrong Advisory Group Inc.’s holdings in Alphabet were worth $688,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet during the second quarter worth $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at $40,000. Richardson Financial Services Inc. purchased a new position in Alphabet during the 4th quarter worth $34,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet during the 2nd quarter valued at about $44,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,092 shares of company stock valued at $35,644,136. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Scotiabank started coverage on Alphabet in a report on Friday. They issued a “sector outperform” rating and a $212.00 price target for the company. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer decreased their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Pivotal Research started coverage on Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price for the company. Finally, DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Trading Up 0.8 %

Shares of NASDAQ:GOOG opened at $164.52 on Monday. The business’s 50 day moving average price is $162.81 and its 200-day moving average price is $169.37. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is presently 12.27%.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.